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NEW YORK CITY — Developer Sam Chang has acquired a five-story, 25-foot-wide loft/office property at 11 West 37th St. in Midtown. Elvee Rosenberg Inc. sold the property for $8.25 million. Through McSam Hotel Group, the buyer plans to convert the property into a boutique hotel. The vacant property includes 15,000 square feet of unused air rights and a total of 25,000 buildable square feet. David Schechtman and Steven Zimmerman of Eastern Consolidated arranged the transaction on behalf of the seller. Alan Miller, also of Eastern Consolidated, represented the buyer.